BlackLine (NASDAQ:BL) Now Covered by Analysts at Rosenblatt Securities

Rosenblatt Securities assumed coverage on shares of BlackLine (NASDAQ:BL) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $65.00 target price on the technology company’s stock.

A number of other equities analysts also recently issued reports on BL. Citigroup reiterated a “market outperform” rating on shares of BlackLine in a research note on Tuesday, October 28th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of BlackLine in a report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of BlackLine in a research report on Monday, November 24th. Baird R W lowered BlackLine from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Morgan Stanley increased their target price on shares of BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BlackLine presently has an average rating of “Hold” and a consensus price target of $61.23.

BlackLine Trading Up 3.0%

Shares of BL stock opened at $57.78 on Tuesday. The stock’s fifty day simple moving average is $53.83 and its 200 day simple moving average is $54.40. The firm has a market capitalization of $3.44 billion, a P/E ratio of 52.05, a P/E/G ratio of 13.34 and a beta of 0.88. BlackLine has a twelve month low of $40.82 and a twelve month high of $66.25. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.03.

BlackLine (NASDAQ:BL) last posted its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. The firm had revenue of $178.29 million for the quarter, compared to analyst estimates of $178.11 million. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. As a group, sell-side analysts predict that BlackLine will post 0.9 EPS for the current fiscal year.

Insider Transactions at BlackLine

In other BlackLine news, Director Thomas Unterman sold 910 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $55.00, for a total value of $50,050.00. Following the transaction, the director owned 41,835 shares of the company’s stock, valued at $2,300,925. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackLine

A number of institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in BlackLine in the 1st quarter valued at approximately $223,000. Avantax Advisory Services Inc. raised its stake in shares of BlackLine by 8.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,999 shares of the technology company’s stock valued at $436,000 after acquiring an additional 676 shares in the last quarter. Cetera Investment Advisers lifted its holdings in BlackLine by 18.2% in the 1st quarter. Cetera Investment Advisers now owns 6,064 shares of the technology company’s stock worth $294,000 after purchasing an additional 935 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in BlackLine by 8.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,520 shares of the technology company’s stock worth $703,000 after purchasing an additional 1,122 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in BlackLine during the first quarter worth approximately $533,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Company Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.